2025 Q2 Portfolio Activity
In 2025 Q2, Grassi Investment Management maintained a portfolio of 129 distinct positions. The most significant new addition was WESTERN MIDSTREAM, now representing 0.09% of the total fund value. They heavily accumulated shares in VERTIV HOLDINGS, increasing the position by 7.4%. The fund also reduced its exposure to SNOWFLAKE CLASS A by 46.5%.
Position History
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Total Positions
129
Quarter
2025 Q2
Top Holding
NVDA (20.8%)
Top 10 Concentration
56.7%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 129
Grassi Investment Management Full Holdings List — 2025 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
NVDA
NVIDIA CORP
|
Technology | 20.78% | 16.65% |
#1
Prev: #1
|
6.5 |
—
|
-7,300 | -0.4% |
P
S
|
1,653,100 | $261,173,000 | 2016 Q3 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
MSFT
MICROSOFT CORP
|
Technology | 6.32% | 5.61% |
#2
2
Prev: #4
|
4.5 |
—
|
-1,849 | -1.1% |
P
S
|
159,643 | $79,408,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
AVGO
BROADCOM LTD
|
Technology | 5.82% | 4.24% |
#3
2
Prev: #5
|
3.8 |
—
|
-8,125 | -3.0% |
P
S
|
265,630 | $73,221,000 | 2019 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
AAPL
APPLE COMPUTER
|
Technology | 5.39% | 6.81% |
#4
2
Prev: #2
|
3.2 |
—
|
-1,199 | -0.4% |
P
S
|
330,171 | $67,741,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
LLY
LILLY, ELI & CO
|
Healthcare | 4.96% | 6.09% |
#5
2
Prev: #3
|
3.0 |
—
|
200 | 0.3% |
P
S
|
79,927 | $62,305,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
AMAT
APPLIED MATERIA...
|
Technology | 3.99% | 3.69% |
#6
Prev: #6
|
2.1 |
—
|
-1,050 | -0.4% |
P
S
|
273,851 | $50,134,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
V
VISA INC CL A
|
Financial Services | 2.80% | 3.22% |
#7
Prev: #7
|
1.6 |
—
|
-249 | -0.3% |
P
S
|
98,967 | $35,138,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
JPM
JP MORGAN CHASE
|
Financial Services | 2.41% | 2.38% |
#8
1
Prev: #9
|
1.5 |
—
|
-597 | -0.6% |
P
S
|
104,353 | $30,253,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
PLD
PROLOGIS
|
Real Estate | 2.14% | 2.65% |
#9
1
Prev: #8
|
1.9 |
—
|
no change | no change |
P
S
|
256,075 | $26,919,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
CAT
CATERPILLAR
|
Industrials | 2.07% | 2.04% |
#10
Prev: #10
|
1.8 |
—
|
no change | no change |
P
S
|
66,904 | $25,973,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
ORCL
ORACLE CORP
|
Technology | 1.66% | 1.27% |
#11
8
Prev: #19
|
1.2 |
—
|
-2,527 | -2.6% |
P
S
|
95,645 | $20,911,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
AMD
ADVANCED MICRO ...
|
Technology | 1.61% | 1.37% |
#12
4
Prev: #16
|
1.1 |
—
|
-1,085 | -0.8% |
P
S
|
142,895 | $20,277,000 | 2019 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
BAC
BANK OF AMERICA
|
Financial Services | 1.59% | 1.64% |
#13
Prev: #13
|
1.1 |
—
|
-1,750 | -0.4% |
P
S
|
423,000 | $20,016,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
ABBV
ABBVIE INC.
|
Healthcare | 1.42% | 1.88% |
#14
3
Prev: #11
|
1.1 |
—
|
-1,225 | -1.3% |
P
S
|
96,025 | $17,824,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
BX
BLACKSTONE
|
Financial Services | 1.35% | 1.48% |
#15
Prev: #15
|
1.0 |
—
|
-698 | -0.6% |
P
S
|
113,750 | $17,015,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
IBM
IBM CORPORATION
|
Technology | 1.35% | 1.34% |
#16
1
Prev: #17
|
1.0 |
—
|
-782 | -1.3% |
P
S
|
57,468 | $16,940,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
MS
MORGAN STANLEY
|
Financial Services | 1.35% | 1.30% |
#17
1
Prev: #18
|
1.0 |
—
|
-700 | -0.6% |
P
S
|
120,050 | $16,910,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
PG
PROCTER & GAMBL...
|
Consumer Defensive | 1.32% | 1.65% |
#18
6
Prev: #12
|
1.5 |
—
|
no change | no change |
P
S
|
104,400 | $16,633,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
ABT
ABBOTT LABS COM
|
Healthcare | 1.31% | 1.50% |
#19
5
Prev: #14
|
1.0 |
—
|
-973 | -0.8% |
P
S
|
121,433 | $16,516,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
AMZN
AMAZON.COM
|
Consumer Cyclical | 1.23% | 1.25% |
#20
Prev: #20
|
1.0 |
—
|
-343 | -0.5% |
P
S
|
70,560 | $15,480,000 | 2016 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
WFC
WELLS FARGO & C...
|
Financial Services | 1.18% | 1.23% |
#21
Prev: #21
|
1.0 |
—
|
3 | 0.0% |
P
S
|
185,369 | $14,852,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
MAR
MARRIOTT INTL
|
Consumer Cyclical | 1.09% | 1.10% |
#22
2
Prev: #24
|
1.4 |
—
|
no change | no change |
P
S
|
50,000 | $13,660,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
HON
HONEYWELL INTL
|
Industrials | 1.07% | 1.14% |
#23
Prev: #23
|
0.9 |
—
|
-599 | -1.0% |
P
S
|
57,648 | $13,425,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
HD
HOME DEPOT INC
|
Consumer Cyclical | 1.06% | 1.23% |
#24
2
Prev: #22
|
0.9 |
—
|
75 | 0.2% |
P
S
|
36,330 | $13,320,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
LMT
LOCKHEED MARTIN
|
Industrials | 0.95% | 1.07% |
#25
3
Prev: #28
|
0.9 |
—
|
-100 | -0.4% |
P
S
|
25,737 | $11,920,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
VMC
VULCAN MATERIAL...
|
Basic Materials | 0.93% | 0.97% |
#26
4
Prev: #30
|
0.9 |
—
|
-200 | -0.4% |
P
S
|
44,752 | $11,672,000 | 2019 Q3 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
UNP
UNION PACIFIC
|
Industrials | 0.91% | 1.09% |
#27
1
Prev: #26
|
1.4 |
—
|
no change | no change |
P
S
|
49,983 | $11,500,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
RIO
RIO TINTO
|
Basic Materials | 0.90% | 1.08% |
#28
1
Prev: #27
|
0.9 |
—
|
-1,935 | -1.0% |
P
S
|
192,969 | $11,256,000 | 2016 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
AMT
AMERICAN TOWER
|
Real Estate | 0.88% | 1.02% |
#29
Prev: #29
|
0.9 |
—
|
-550 | -1.1% |
P
S
|
49,967 | $11,044,000 | 2016 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
NOW
SERVICENOW, INC
|
Technology | 0.86% | 0.79% |
#30
8
Prev: #38
|
0.8 |
—
|
-115 | -1.1% |
P
S
|
10,555 | $10,851,000 | 2018 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
SCHW
CHARLES SCHWAB
|
Financial Services | 0.85% | 0.86% |
#31
3
Prev: #34
|
0.8 |
—
|
-1,500 | -1.3% |
P
S
|
117,018 | $10,677,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
UBER
UBER TECHNOLOGI...
|
Technology | 0.82% | 0.77% |
#32
7
Prev: #39
|
0.8 |
—
|
-2,975 | -2.6% |
P
S
|
110,550 | $10,314,000 | 2020 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
WMT
WAL-MART STORES
|
Consumer Defensive | 0.79% | 0.83% |
#33
3
Prev: #36
|
1.3 |
—
|
no change | no change |
P
S
|
101,722 | $9,946,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
SNOW
SNOWFLAKE CLASS...
|
Technology | 0.77% | 1.10% |
#34
9
Prev: #25
|
0.3 |
—
|
-37,800 | -46.5% |
P
S
|
43,450 | $9,723,000 | 2023 Q3 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
BA
BOEING
|
Industrials | 0.75% | 0.64% |
#35
7
Prev: #42
|
2.3 |
—
|
4,300 | 10.6% |
P
S
|
45,007 | $9,430,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
DLR
DIGITAL REALTY ...
|
Real Estate | 0.75% | 0.72% |
#36
4
Prev: #40
|
0.8 |
—
|
-550 | -1.0% |
P
S
|
53,740 | $9,369,000 | 2018 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
CRM
SALESFORCE.COM
|
Technology | 0.73% | 0.83% |
#37
2
Prev: #35
|
0.8 |
—
|
100 | 0.3% |
P
S
|
33,614 | $9,166,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
JNJ
JOHN. & JOHN.
|
Healthcare | 0.71% | 0.89% |
#38
7
Prev: #31
|
0.8 |
—
|
-200 | -0.3% |
P
S
|
58,125 | $8,879,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
MRK
MERCK & CO INC
|
Healthcare | 0.66% | 0.87% |
#39
7
Prev: #32
|
0.8 |
—
|
-448 | -0.4% |
P
S
|
104,417 | $8,266,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
CVX
CHEVRON CORP
|
Energy | 0.64% | 0.87% |
#40
7
Prev: #33
|
1.3 |
—
|
no change | no change |
P
S
|
55,996 | $8,018,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
XLK
TECHNOLOGY
|
Unknown | 0.58% | 0.57% |
#41
3
Prev: #44
|
0.7 |
—
|
-1,398 | -4.6% |
P
S
|
28,703 | $7,269,000 | 2019 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
DIS
DISNEY, WALT CO
|
Communication Services | 0.57% | 0.53% |
#42
4
Prev: #46
|
0.7 |
—
|
-250 | -0.4% |
P
S
|
58,090 | $7,204,000 | 2016 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
AXP
AMERICAN EXPRES...
|
Financial Services | 0.56% | 0.55% |
#43
2
Prev: #45
|
1.2 |
—
|
no change | no change |
P
S
|
22,060 | $7,037,000 | 2014 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
VRT
VERTIV HOLDINGS
|
Industrials | 0.53% | 0.32% |
#44
12
Prev: #56
|
2.2 |
—
|
3,535 | 7.4% |
P
S
|
51,435 | $6,605,000 | 2024 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
STZ
CONSTELLATION
|
Consumer Defensive | 0.51% | 0.70% |
#45
4
Prev: #41
|
0.7 |
—
|
-1,400 | -3.4% |
P
S
|
39,589 | $6,440,000 | 2016 Q3 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
QQQ
INVESCO QQQ
|
ETF | 0.50% | 0.49% |
#46
3
Prev: #49
|
0.7 |
—
|
82 | 0.7% |
P
S
|
11,346 | $6,259,000 | 2019 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
GOOGL
ALPHABET CLASS ...
|
Communication Services | 0.47% | 0.79% |
#47
10
Prev: #37
|
0.2 |
—
|
-21,475 | -39.0% |
P
S
|
33,549 | $5,912,000 | 2015 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
COST
COSTCO WHOLESAL...
|
Consumer Defensive | 0.43% | 0.47% |
#48
2
Prev: #50
|
1.2 |
—
|
no change | no change |
P
S
|
5,408 | $5,354,000 | 2015 Q4 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
DELL
DELL INC
|
Technology | 0.42% | 0.34% |
#49
5
Prev: #54
|
2.2 |
—
|
3,040 | 7.5% |
P
S
|
43,515 | $5,335,000 | 2024 Q2 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) | |||
|
SHOP
SHOPIFY INC
|
Technology | 0.42% | 0.41% |
#50
2
Prev: #52
|
0.7 |
—
|
-450 | -1.0% |
P
S
|
45,955 | $5,301,000 | 2020 Q1 | 13F Filing | 2025-06-30 | 2025-08-14 (Est.) |
Showing 1-50 of 129 holdings